Cincinnati Financial Corporation $CINF Stock Purchased by Park National Corp OH

Park National Corp OH increased its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 693.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,478 shares of the insurance provider’s stock after acquiring an additional 79,073 shares during the quarter. Park National Corp OH’s holdings in Cincinnati Financial were worth $14,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nykredit A S acquired a new position in shares of Cincinnati Financial in the 2nd quarter valued at $29,340,000. Manning & Napier Advisors LLC acquired a new position in Cincinnati Financial in the second quarter valued at about $3,585,000. Bank of America Corp DE acquired a new position in Cincinnati Financial in the second quarter valued at about $347,891,000. National Pension Service boosted its stake in Cincinnati Financial by 394.1% during the second quarter. National Pension Service now owns 1,280,676 shares of the insurance provider’s stock worth $237,104,000 after buying an additional 1,021,465 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Cincinnati Financial during the second quarter valued at about $14,412,000. 65.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on CINF. Piper Sandler boosted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Bank of America downgraded Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, September 10th. Keefe, Bruyette & Woods lowered their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a report on Wednesday, August 5th. Finally, Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.40.

View Our Latest Stock Report on CINF

Insider Transactions at Cincinnati Financial

In other news, Director Dirk Debbink purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.94% of the stock is owned by corporate insiders.

Cincinnati Financial Stock Up 0.7%

Shares of Cincinnati Financial stock traded up $1.15 during trading on Monday, hitting $163.10. 121,037 shares of the stock were exchanged, compared to its average volume of 740,268. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 2.76 and a beta of 0.52. The firm’s 50-day moving average price is $171.01 and its 200 day moving average price is $169.21. Cincinnati Financial Corporation has a 12-month low of $150.00 and a 12-month high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same period last year, the business posted $1.97 EPS. As a group, analysts forecast that Cincinnati Financial Corporation will post 8.35 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. Cincinnati Financial’s payout ratio is 17.74%.

Cincinnati Financial Profile

(Free Report)

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.

Further Reading

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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